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Employee Benefits (Tables)
6 Months Ended
Jun. 30, 2020
Compensation And Retirement Disclosure [Abstract]  
Schedule of Company Compensation Expense for the ESOP the Company records compensation expense for the ESOP equal to fair market value of shares when they are committed to be released from the suspense account to participants’ accounts under the plan.

 

 

 

June 30, 2020

 

Shares held by the ESOP include the following:

 

 

 

 

Allocated

 

 

11,924

 

Committed to be allocated

 

 

5,962

 

Unallocated

 

 

220,587

 

Total

 

 

238,473

 

 

Schedule of Funded Status Valuation Report Percentage

The funded status (fair value of plan assets divided by funding target) as of July 1, 2019 is as follows:

 

2019 Valuation Report

 

 

92.61

%

(1)